BRISBANE, Calif.--(BUSINESS WIRE)--Innoviva, Inc. (NASDAQ: INVA) today reported financial results for the fourth quarter and year ended December 31, 2016. Gross royalties earned on net sales of RELVAR®/BREO® ELLIPTA® and ANORO® ELLIPTA® from Glaxo Group Limited (GSK) during the fourth quarter of 2016 were $46.8 million, up 80% from $26.1 million in the fourth quarter of 2015. Gross royalties earned in 2016 reached $146.5 million, up 119% from $66.9 million in 2015.
Income from operations for the fourth quarter of 2016 was $37.7 million, compared with $17.3 million for the same period in 2015. Adjusted EBITDA rose 95% to $43.7 million, from $22.4 million in the fourth quarter of 2015.
Income from operations for the fourth quarter of 2016 was $37.7 million, compared with $17.3 million for the same period in 2015. Adjusted EBITDA rose 95% to $43.7 million, from $22.4 million in the fourth quarter of 2015.
